Verizon Communications Inc. (NYSE:VZ) EVP Craig L. Silliman sold 672 shares of Verizon Communications stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $52.40, for a total transaction of $35,212.80. Following the transaction, the executive vice president now directly owns 9,854 shares in the company, valued at $516,349.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Verizon Communications (NYSE:VZ) last announced its earnings results on Tuesday, July 26th. The cell phone carrier reported $0.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.92 by $0.02. The firm earned $30.53 billion during the quarter, compared to analysts’ expectations of $30.95 billion. Verizon Communications had a return on equity of 87.41% and a net margin of 11.10%. The company’s revenue was down 5.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.04 earnings per share.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 1st. Stockholders of record on Friday, October 7th will be given a $0.0125 dividend. The ex-dividend date of this dividend is Wednesday, October 5th. This represents a $0.05 annualized dividend and a dividend yield of 0.10%. Verizon Communications’s dividend payout ratio is 63.84%.
Several large investors have recently bought and sold shares of VZ. Evercore Wealth Management LLC boosted its stake in Verizon Communications by 6.2% in the second quarter. Evercore Wealth Management LLC now owns 64,080 shares of the cell phone carrier’s stock valued at $3,578,000 after buying an additional 3,740 shares in the last quarter. Macquarie Group Ltd. boosted its stake in Verizon Communications by 4.9% in the second quarter. Macquarie Group Ltd. now owns 14,029,001 shares of the cell phone carrier’s stock valued at $783,379,000 after buying an additional 650,267 shares in the last quarter. Carnick & Kubik Group LLC acquired a new stake in Verizon Communications during the second quarter valued at $701,000. Williams Jones & Associates LLC boosted its stake in Verizon Communications by 22.8% in the second quarter. Williams Jones & Associates LLC now owns 101,691 shares of the cell phone carrier’s stock valued at $5,678,000 after buying an additional 18,879 shares in the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in Verizon Communications during the second quarter valued at $9,191,000. 63.47% of the stock is owned by institutional investors.
VZ has been the topic of a number of analyst reports. Argus reiterated a “buy” rating on shares of Verizon Communications in a research note on Sunday, June 12th. Bank of America Corp. reiterated a “buy” rating on shares of Verizon Communications in a research note on Wednesday, June 8th. Morgan Stanley reiterated a “buy” rating on shares of Verizon Communications in a research note on Monday, June 6th. RBC Capital Markets reiterated a “buy” rating on shares of Verizon Communications in a research note on Monday, July 25th. Finally, Vetr reiterated a “buy” rating on shares of Verizon Communications in a research note on Wednesday, August 10th. Twenty-four investment analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Verizon Communications presently has an average rating of “Hold” and a consensus price target of $54.48.
Verizon Communications Company Profile
Verizon Communications Inc (Verizon) is a holding company. The Company, through its subsidiaries, provides communications, information and entertainment products and services to consumers, businesses and governmental agencies. The Company offers voice, data and video services and solutions on its wireless and wireline networks.
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